Real Estate mogul Gus Murad, who owns Medjool, Elements hostel, New Mission Theater and, until recently, Giant Value, sold the property to Oyster Development who turn plans to build condos and retail space on the site. And you can bet those condos won’t be a giant value.
According to SF Curbed, Murad plans to use the money received from the sale (rumored to be about $4 million) to finance his plan to revive New Mission Theater into an entertainment complex. Hopefully that dream won’t take another ten years to actualize.
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Photo credit: “Giant Value” by Quepol via Zooomr